How has Switzerland sustained their economy over the years?

Question

And how did they get their start up money?

Panther, that's a very informative answer.

Crosstich, have u evr heard of Swiss money having high concentrations of Iodine (or something like that) in it? Thank you for your answer too.

Thanx for ur humor marcello, and thanks for your sharing swissnick, I'm just trying to understand why USA fails it's people in so many ways, and tired of being ignorant about how other countries serve their people so well And I ALWAYS loved Swiss products!.

Answer 1

Already in medieval times, Swiss (soldiers) were known to offer high quality work at high prices. Switzerland never had any natural commodities like oil or metals, so the only possible "export goods" were knowledge and skills.

I can't put a date the Swiss got their so-called "start up money" - already before WW2 Swiss banks were very sophisticated institutions - and there were many wealthy people living in the Swiss cities.

And today, there is a substantial export excess due to the fact, that mainly expensive engineering and services are done in Switzerland (value-adding) but rather cheap commodities are imported.

Greetings from Switzerland :-)

Answer 2

Switzerland has a highly successful market economy based on international trade and banking. Its standards of living, worker productivity, quality of education, and health care are higher than any other European country. Inflation is low, and unemployment is negligible. The economy is heavily dependent on foreign guest workers, who represent approximately 20% of the labor force. Agriculture employs less than 5% of the population, and since only 10% of the land is arable, the primary agricultural products are cattle and dairy goods. Mineral resources are scarce, and most raw materials and many food products must be imported. Tourism, which adds significantly to the economy, helps to balance Switzerland's trade deficit. Electricity is generated chiefly from hydroelectrical and nuclear power sources.

Switzerland has a worldwide reputation for the high quality of its export manufactures, which include motors, generators, turbines, and diverse high-tech products. Centered in Basel, the chemical-pharmaceutical industry exports around the globe. Due to its central location in Europe and the stability of its politics and currency, Switzerland has become one of the world's most important financial centers. The banking, insurance, shipping, and freighting industries accommodate the enormous amount of international trade going through Switzerland. Its most important trading partners are Germany, France, Italy, the United States, the United Kingdom, and Japan.

Answer 3

There's a theory that the Knights Templar who survived went to Switzerland. They had pretty much started up modern banking, so the Knights Templar had gotten very rich, even more than most kingdoms. A few survived after the king of France tried to have them all killed, and since the king was unable to find the money, they may have taken it with them. That would be one heck of a source for start-up money.

Answer 4

Wow, good answers above. And here I thought it was selling tiny little knives!